Common use of Issue of Units and Payment Thereon Clause in Contracts

Issue of Units and Payment Thereon. (a) If the Acquisition Time occurs by the Deadline, the Units shall be and shall be deemed to be issued to the Receiptholder in accordance with the right of such holder as described in Section 2.2(a) hereof (which right shall be and shall be deemed to be exercised upon the occurrence of the Acquisition Time) and such Units shall be deemed to be issued pursuant to the Trust Indenture at the Issue Time, notwithstanding that a certificate or a Book-Entry Only System customer confirmation therefor may not yet have been issued or entered, as the case may be, and the persons to whom such Units are to be issued in accordance with the provisions of this Agreement shall be deemed to have become the holders of record of such Units at the Issue Time.

Issue of Units and Payment Thereon. (a) If the Acquisition Time occurs by the Deadline, the Units shall be and shall be deemed to be issued to the Receiptholder (including those Receiptholders holding U.S. Certificates) in accordance with the right of such holder as described in Section 2.2(a) hereof (which right shall be and shall be deemed to be exercised upon the occurrence of the Acquisition Time) and such Units shall be deemed to be issued pursuant to the PET Trust Indenture at the Issue Time, notwithstanding that a certificate or a Book-Entry Only System customer confirmation therefor may not yet have been issued or entered, as the case may be, and the persons to whom such Units are to be issued in accordance with the provisions of this Agreement shall be deemed to have become the holders of record of such Units at the Issue Time.